Today, artificial intelligence is disrupting nearly every industry, including big data and analytics.
One standout company in this space is Palantir Technologies.
Founded in 2003, Palantir has established itself as a leader in big data analytics and AI, providing software solutions to both government agencies and commercial enterprises.
Palantir’s stock and market share have grown significantly in recent years.
With that in mind, we take a closer look at the company’s key statistics below, including annual revenue, funding details, employee count, and market valuation.
Top Palantir Stats
- Palantir reported $2.23 billion in revenue for 2023, a 16.75% year-over-year increase.
- As of January 2025, Palantir’s market capitalization is $162.10 billion, making it the 92nd most valuable company globally.
- The United States accounts for approximately $1.4 billion, or 61.90% of Palantir’s total revenue.
- Palantir currently has 3,735 employees.
Palantir Annual Revenue
In 2023, Palantir Technologies reported $2.22 billion in annual revenue, a 16.75% year-over-year increase.
Since 2018, Palantir’s annual revenue has grown from $595 million to $2.22 billion, a 269.75% increase.
Here is a look at Palantir’s annual revenue each year since 2018.
| Year | Revenue | Growth |
|---|---|---|
| 2018 | $595.00 million | 0% |
| 2019 | $743.00 million | 24.87% |
| 2020 | $1.09 billion | 46.70% |
| 2021 | $1.54 billion | 41.28% |
| 2022 | $1.91 billion | 24.03% |
| 2023 | $2.23 billion | 16.75% |
In 2025, Palantir’s annual revenue is expected to grow even more.
The company’s current revenue (TTM) is $2.64 billion. For the year, it’s expected to reach $2.805 billion to $2.809 billion.
Sources: Companies Market Cap, Macrotrends, Palantir
Palantir Annual Revenue by Segment
Palantir reports revenue in three primary segments. The first is government revenues, while the second is commercial revenues.
Both revenue segments are strong, but government revenues are Palantir’s largest income source.
This segment includes software and services for government agencies to support national security, surveillance, etc.
In fiscal year 2023, Palantir reported $1.2 billion in government revenue, an increase of 9.1% from the previous year.
According to the company’s Q3 2024 earnings report, government revenue grew 40% year-over-year and 15% quarter-over-quarter to $320 million.
Palantir projects a total of $1.44 billion in government revenue in 2024. That accounts for 54.54% of the company’s current revenue (TTM).
Here’s a table showing Palantir’s annual government revenue since 2020:
| Year | Government Revenue | YoY Growth (%) |
|---|---|---|
| 2020 | $610.00 million | 0% |
| 2021 | $896.96 million | 47.04% |
| 2022 | $1.07 billion | 19.29% |
| 2023 | $1.22 billion | 14.02% |
| 2024 (Projected) | $1.44 billion | 18.03% |
Palantir showed impressive growth in its commercial revenue sector, increasing revenue in Q3 2024 by 54% year-over-year and 13% quarter-over-quarter to $179 million.
The company projects $1.21 billion in commercial revenue in 2024, which accounts for 45.46% of its current revenue (TTM).
Here’s a table showing Palantir’s annual commercial revenue since 2020:
| Year | Commercial Revenue | YoY Growth (%) |
|---|---|---|
| 2020 | $483.00 million | 0% |
| 2021 | $644.83 million | 33.51% |
| 2022 | $834.06 million | 29.35% |
| 2023 | $1.00 billion | 19.90% |
| 2024 (Projected) | $1.21 billion | 21.00% |
Sources: Statista
Palantir Revenue by Region
The United States is Palantir’s largest market, contributing nearly two-thirds (61.90%) of the company’s total revenue.
Overall, the United States accounts for $1.4 billion in revenue for Palantir.
Meanwhile, the rest of the world (outside of the UK) comprises 27.50% of total revenue, or $611.5 million.
The United Kingdom makes up 10.60% of Palantir’s revenue. That equals roughly $235.3 million.
| Region | Revenue | Percentage |
|---|---|---|
| United States | $1.4 billion | 61.90% |
| Rest of World | $611.5 million | 27.50% |
| United Kingdom | $235.3 million | 10.60% |
Sources: Alpha Spread
Palantir Funding & Valuation
Palantir has raised a total of $3 billion over 28 funding rounds. The company’s latest funding round was a post-IPO equity round for $10.1 million.
The company’s market cap is currently $162.10 billion, making Palantir the 92nd most valuable company by market cap.
In comparison, it went public with a valuation of $16.40 billion.
Here’s a look at how Palantir’s market cap has changed over time:
| Date | Market Cap |
|---|---|
| September 2020 | $15.70 billion |
| December 2020 | $44.31 billion |
| December 2021 | $36.99 billion |
| December 2022 | $12.69 billion |
| December 2023 | $33.95 billion |
| December 2024 | $162.10 billion |
Sources: Crunchbase, Companies MarketCap, YCharts
Palantir Stock Price History
As of December 5, 2024, Palantir’s stock price reached a new all-time high of $72.05.
Today, the stock sits at around $71.05. And the stock has steadily increased since its IPO.
Here’s a look at the company’s stock price history since going public in 2021.
| Year | Avg. Stock Price | Year Open | Year High | Year Low | Year Close | Annual Change |
|---|---|---|---|---|---|---|
| 2021 | $24.22 | $23.37 | $39.00 | $17.96 | $18.21 | -22.68% |
| 2022 | $9.91 | $18.53 | $18.53 | $6.00 | $6.42 | -64.74% |
| 2023 | $13.26 | $6.39 | $21.34 | $6.32 | $17.17 | 167.45% |
| 2024 | $29.43 | $16.58 | $75.56 | $15.98 | $66.05 | 284.68% |
Sources: Macrotrends
How many people work at Palantir?
According to the latest official filings, Palantir had 3,735 employees as of December 31, 2023.
This represents a decrease of 103 employees or -2.68% compared to the previous year.
Here’s a closer look at the number of Palantir employees over time:
| Year | Employees | Change | Growth (%) |
|---|---|---|---|
| 2019 | 2,391 | 0 | 0% |
| 2020 | 2,439 | 48 | 2.01% |
| 2021 | 2,920 | 481 | 19.72% |
| 2022 | 3,838 | 918 | 31.44% |
| 2023 | 3,735 | -103 | -2.68% |
Sources: Stock Analysis
Key Takeaways
Palantir is well-positioned to capitalize on the growing demand for AI-driven solutions across various sectors.
With a strong revenue forecast for 2025 and beyond, it’s becoming one of the names to watch in the space.
It will be interesting to see where its stock, market cap, and headcount stand a year or two from now.
